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Jan 10, 2013
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you make the key point there which is we're in the most conservative credit lending environment that this nation has seen in several decades at a time when we need home purchase activity to increase at a far greater rate. those two are clearly juxtaposed in opposition to each other. this qm rule is not bad t.basically boxes in today's credit standards, but it's by no means going to broaden credit access to homeowners across the market and we still really need to resolve, not just this qm rule and see how it gets implemented, but again basl, qrm, repurchase stab guards and gses. for capital to come back, investors need confidence that when they lend, they can do so safely and soundly in a way that doesn't catch them later on. >> right. >> this is step one, and there are many steps to come. >> david, thank you. diana, thank you. we'll keep watching this. appreciate your time tonight and will see you soon. 20 minutes before the closing bell sound. we're at the hues of the day. a gain of 77 points on the industrial average. >> disappointing home sales, canary in the coal mine for how upp
you make the key point there which is we're in the most conservative credit lending environment that this nation has seen in several decades at a time when we need home purchase activity to increase at a far greater rate. those two are clearly juxtaposed in opposition to each other. this qm rule is not bad t.basically boxes in today's credit standards, but it's by no means going to broaden credit access to homeowners across the market and we still really need to resolve, not just this qm rule...
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Jan 8, 2013
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you're talking about cyclicals and you're talking cyclicals in an environment where the whole global economy has slowed down. how do you play into that story? >> what i'm arguing, maria, we're going to have some, not a lot, some improvement, not just of growth but about perceptions of growth. right now anybody who thinks we're going to grow thinks we're going to grow for that long and the next day they have no clue. we need just a little bit of confidence. about e.p.s for cyclical stocks are way in the basement discounting a recession i don't think we're going to get. >> maria made the point about all these companies sitting on cold, hard cash. will we see bigger payouts as a result that have? put some of the cash to work? all of these things are going to be positive for a market rally. >> it doesn't matter how much cash you have if they are not doing anything with it. >> you have to have some confidence. look, i won't stand here and be silly and poun the table saying confidence is coming back. i think there will be a little less fear. sort of in order, dividend increases, share buyb
you're talking about cyclicals and you're talking cyclicals in an environment where the whole global economy has slowed down. how do you play into that story? >> what i'm arguing, maria, we're going to have some, not a lot, some improvement, not just of growth but about perceptions of growth. right now anybody who thinks we're going to grow thinks we're going to grow for that long and the next day they have no clue. we need just a little bit of confidence. about e.p.s for cyclical stocks...
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Jan 9, 2013
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. >> we've lived in this environment for the last 18 months, one big disaster after another. everyone is waiting for the policy response, comes at the 11th hour and 59th minute. this is a pattern everyone has gotten used to but the fiscal cliff and the debt ceiling are the last big tail risks we think of the tail risks that we have to worry about, saw we would say once we get past that over the next several months we think it will lift a little bit of a cloud and investors will take risks. >> good to see you. >> good to see you. >> thanks so much for joining us. >> bob, thanks to you as well. ten minutes to go before we close it up. the dow jones industrial average holding on to a gain of 50 points. >> well, this herbalife soap opera is continuing. herb greenberg is coming up. all over the big move in the stock. take a look. up 3.25% right now. we'll show you what's behind it. >> and can you believe the iphone was only introduced five years ago? it is true. five years ago today, in fact, so here's a trivia question for you. the iphone alone is worth more money than what whole
. >> we've lived in this environment for the last 18 months, one big disaster after another. everyone is waiting for the policy response, comes at the 11th hour and 59th minute. this is a pattern everyone has gotten used to but the fiscal cliff and the debt ceiling are the last big tail risks we think of the tail risks that we have to worry about, saw we would say once we get past that over the next several months we think it will lift a little bit of a cloud and investors will take...
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Jan 7, 2013
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the regulatory environment is more honerous today than it has been in decades. at the end of 2012, s andp
the regulatory environment is more honerous today than it has been in decades. at the end of 2012, s andp
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Jan 8, 2013
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the market knows we're in a slow growth environment. we're not going to get strong gdp, and it's not willing to assign much of a pe to these earnings. that's going to be a continuation, but next year i think investor confidence is going to improve a little. it's really lagged in this rally, so i think we're just going to be able to inch it up enough to where we have a decent year in the market and modest earnings growth. >> david, jump in here. your top stocks picks for 2012 outper formeded in the market by 6%. nice going there. >> thank you. >> looking ahead, what are your picks in 2013 and what's the maybe influence on this market, the, the dysfunction in washington, the global economy? what's the real catalyst for stocks? >> sure, to the second question first, the catalyst for stocks will be valuation most important and lower interest rates and continued accommodative fed policy i think is ultimately proof positive for stocks, not just this year but over the next couple of years versus alternative investments. and in that type of bac
the market knows we're in a slow growth environment. we're not going to get strong gdp, and it's not willing to assign much of a pe to these earnings. that's going to be a continuation, but next year i think investor confidence is going to improve a little. it's really lagged in this rally, so i think we're just going to be able to inch it up enough to where we have a decent year in the market and modest earnings growth. >> david, jump in here. your top stocks picks for 2012 outper...
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Jan 11, 2013
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but it's there on the sidelines, and yet this market keeps going higher because of this interest rate environment, because of the easy money from central bankers. do you still see that kind of conviction on -- on the part of big buyers? >> yes, i do, and i think as we said, the global p myois telling you that we're coming from a dismal place. if you bag back to the fiscal collapse that we went through worldwide, particularly i look to china, for the impact that china continues to have on the global economy. the united states is again demonstrating, may not be the growth rate that we want, but it is in fact heading in the right direction which is why the asset class of exsis should come back into favor. we've been out of favor for years at this point. the weekly money flows we just saw, the first time we've seen positive growth. >> exactly. >> i think that money has been spent quite frankly so that's a tough trade, but at this particular point market has digested what it's going to digest. put in a great first two weeks of january, and i believe the money flows should and will continue into the un
but it's there on the sidelines, and yet this market keeps going higher because of this interest rate environment, because of the easy money from central bankers. do you still see that kind of conviction on -- on the part of big buyers? >> yes, i do, and i think as we said, the global p myois telling you that we're coming from a dismal place. if you bag back to the fiscal collapse that we went through worldwide, particularly i look to china, for the impact that china continues to have on...
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are actually behind the counter in dispensaries, and so it's a very safe, secure, highly regulated environment that we operate in. >> okay. so 18 states have now passed medical marijuana laws. 18 states, so you -- you operate -- you operate already in california. you operate in canada. you've got dispensers coming to market in arizona in a matter of weeks. >> correct. >> what when are you likely to break into the remaining states? what's the plan for growth? >> that's a very good question because we are not just about medical marijuana. our technology crosses many boundaries in the traditional pharmacy retailing business, whether it's retail pharmacies, institutional pharmacy plays, doctor offices, hospice, long-term care, so our solution really is very broad scope and has a tremendous value proposition in traditional pharmacy and in traditional health care. in terms of medical marijuana we are on a state-by-state awareness, put if in aware ney. every state sen acting its own laws and regulations so we're currently enacting the rules in recently passed state like connecticut and massachusetts.
are actually behind the counter in dispensaries, and so it's a very safe, secure, highly regulated environment that we operate in. >> okay. so 18 states have now passed medical marijuana laws. 18 states, so you -- you operate -- you operate already in california. you operate in canada. you've got dispensers coming to market in arizona in a matter of weeks. >> correct. >> what when are you likely to break into the remaining states? what's the plan for growth? >> that's a...
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Jan 9, 2013
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sort of the new normal, if you will, in a lot of these companies given the fact that the regulatory environment is getting worse and globalization is not necessarily on their side where it was so many years ago? is this going to be the new normal? well, i don't think so. here's the question. will the politicians get it right? will we go over the cliff, another debt ceiling and if we don't we could have a very robust capital markets this year, an that's what encourages me for the big money centers. for the smaller guys starved for loan growth and margin pressures they will be buyers. the really small guys will be the sellers and you'll see a lot of m & a opportunity out here. >> jason this morning you raised estimates on three banks. you lowered estimates on nine banks. tell me what was behind that. you're expecting the quarter to be what, more negative than positive for the sector overall? how do you see it? >> fine tuning here and there with overall estimate. i think generally for the earnings for the quarter. we think about half our banks will beat expectations. half miss. if you think during
sort of the new normal, if you will, in a lot of these companies given the fact that the regulatory environment is getting worse and globalization is not necessarily on their side where it was so many years ago? is this going to be the new normal? well, i don't think so. here's the question. will the politicians get it right? will we go over the cliff, another debt ceiling and if we don't we could have a very robust capital markets this year, an that's what encourages me for the big money...